-2- in this respect. It gave our suppliers confidence in our ability to they had a pay them back in goods. Sterling balances were valuable: much more, a real bucking in goods. But if commercial exports fall sterling balances critical point will be reached in some countries when This difficulty will not be voluntarily increased, but may diminish. ought to be surmountable in the case of Empire countries which ought to be prepared to forego some of their imports but foreign countries cannot be expected to make the same sacrifices.